Oracle Exam 1Z0-516 Topic 9 Question 15 Discussion

Actual exam question for Oracle's 1Z0-516 exam

Question #: 15
Topic #: 9

The Health Department of the United Kingdom is using the cash basis of accounting. After the recent elections, the new government has decided to implement Oracle General Ledger.

They want to change the accounting method to accrual basis. However, they also want to maintain the cash basis of accounting for reporting purposes.

As an implementation consultant, what one recommendation would you make to meet the above requirement?

ACreate two primary ledgers with the standard cash method.

BCreate two primary ledgers with the standard accrual method.

CCreate a primary ledger with standard cash, and a reporting ledger with standard accrual.

DCreate a primary ledger with the standard accrual method, and a reporting ledger with standard cash.

ECreate a primary ledger with standard accrual, and the secondary ledger with the standard cash methods.

Show Suggested Answer

Suggested Answer: D

by Joesph at Mar 18, 2024, 06:33 AM

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Rachael

2 months ago

I hope the implementation consultant doesn't try to pull a fast one and recommend Option B. That would be like trying to make a square peg fit in a round hole!

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Donette

16 days ago

Definitely, it allows for accurate reporting while still maintaining the cash basis for other purposes.

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Michel

27 days ago

I agree, having a primary ledger with cash and a reporting ledger with accrual makes sense.

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Tori

1 months ago

Option C seems like the best choice to meet the requirement.

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Lisbeth

2 months ago

I bet the UK Health Department is regretting this decision already. Talk about a recipe for confusion! Option C seems like the best compromise, though.

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Eloisa

11 days ago

It definitely helps maintain clarity in financial reporting.

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Barrett

17 days ago

I agree, having a primary ledger with cash and a reporting ledger with accrual makes sense.

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Tamera

1 months ago

Option C seems like a good compromise.

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Billi

2 months ago

Oh man, this is a tricky one. I can see the appeal of Option E, but maintaining two full ledgers sounds like a headache. I'm leaning towards Option C myself.

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Elly

22 days ago

It's important to have accurate financial reporting while still being able to use the cash basis for day-to-day operations.

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Rene

27 days ago

Yeah, having a primary ledger with cash basis and a reporting ledger with accrual basis makes sense.

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Jules

1 months ago

Option C seems like a good compromise to meet the requirements.

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Rosamond

2 months ago

I agree, maintaining two full ledgers does sound like a lot of work.

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Ailene

2 months ago

Hmm, I'm not sure about having two primary ledgers. That could get messy. I think Option D makes the most sense - use the primary for accrual and the reporting for cash. Nice and simple.

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Nettie

2 months ago

I'm not sure, but I think option D could also work. It separates the two methods clearly.

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Lenora

2 months ago

I agree with Karina. Having a primary ledger with cash and a reporting ledger with accrual makes sense.

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Talia

2 months ago

Option C sounds like the way to go. Keep the primary ledger on cash basis for reporting, and use the reporting ledger for accrual-based financials. Elegant solution!

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Shawn

1 months ago

It's a good way to maintain both methods for different purposes.

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Tricia

1 months ago

I agree, option C seems like the best choice for their situation.

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Portia

1 months ago

Yes, having a primary ledger for cash basis and a reporting ledger for accrual basis provides the best of both worlds in terms of accounting methods.

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Shaunna

1 months ago

It definitely simplifies things and ensures accurate financial reporting for the Health Department.

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Maxima

2 months ago

I agree, having separate ledgers for different accounting methods makes it easier to manage and report financial information.

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Luis

2 months ago

Option C sounds like the way to go. Keep the primary ledger on cash basis for reporting, and use the reporting ledger for accrual-based financials. Elegant solution!

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Karina

2 months ago

I think option C is the best choice.

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